Colorado Landlord Tenant Law Changes
Description
How to fill out Colorado Notice Of Breach Of Written Lease For Violating Specific Provisions Of Lease With Right To Cure For Nonresidential Property From Landlord To Tenant?
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FAQ
As of October 1, 2021, Colorado adopted a grace period law. It states that Colorado landlords can't charge late rent fees until rent is seven days late. Plus, late fees are capped at $50 or 5% of the amount of past due rent, whichever is greater. To charge a late fee, landlords must disclose it in the rental agreement.
Senate Bill 23-184 will cap the minimum income requirements to twice the cost of monthly rent. Right now, landlords can require tenants to make at least three times what they charge for rent.
In Colorado rent increments are not controlled by the state, meaning the landlord can raise rent to any amount that they wish if they feel it is necessary ing to the rental market.
The new law prohibits landlords from requiring that tenants waive certain legal rights in their leases, like the ability to participate in class-action lawsuits or jury trials. It also prohibits landlords from charging renters a penalty if the renter doesn't give notice that they aren't renewing their lease.
Signed into law on June 5, 2023, HB23-1095 comes into effect this August. This bill prohibits certain provisions in leases or rental agreements. If your lease contains any of these provisions, they will not be enforceable after the effective date. by third parties outside the control of the landlord.